Vascular Patches Market Overview
Vascular Patches Market Innovation, mergers & acquisitions, product launch, and regional expansion remain the key trends for these players to maintain their market positions.
Vascular Patches Industry estimated to grow double fold by the end of 2023. The market is mainly driven by the burgeoning healthcare sector. In 2017, the market had valued at USD 4.1 Bn which is expected to reach USD 6.1 Bn by 2023, registering 4.1% CAGR during the forecast period (2018-2023).
Deskbound lifestyle, anxiety, stress and high consumption of junk food are the key causes of cardiovascular diseases. Sedentary lifestyle mirrors the demand for vascular surgeries and hence, patches. Moreover, the increasing number of cases of cardiovascular diseases are supporting the vascular patches market to grow rapidly.
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Global Vascular Patches Market – Key Players
Some of the market leaders profiled in the report are C.R. Bard, Inc. (U.S.), Terumo Corporation (Japan), B. Braun Melsungen AG (Germany), Maquet (Germany), LeMaitre Vascular, Inc. (U.S.), W. L. Gore & Associates, Inc. (US), CryoLife, Inc. (U.S.), Admedus (Australia), Labcor Laboratórios Ltda (Brazil), Edwards Lifesciences Corporation (U.S.), and Baxter International Inc. (U.S.).
Global Vascular Patches Market – Segments
The global vascular patches market has been segmented on the basis of material, application, end-user, and regions. By material, the market is segmented into biologic vascular patches and synthetic vascular patches.
Among these, the segment biologic vascular patches account for the major segment, whereas, the synthetic vascular patches segment accounts for the fastest growing segment.
By application, the market is segmented into carotid endarterectomy and open repair of abdominal aortic aneurysms vascular bypass surgery
Out of these, the segment carotid endarterectomy accounts for the largest segment, whereas, the open repair of abdominal aortic aneurysms vascular bypass surgery is the fastest growing segment.
By end-user the market is segmented into hospitals & clinics and ambulatory surgical centers, and others. The segment hospitals & clinics is the largest segment, whereas the ambulatory surgical centers is deemed to be the fastest growing segment.
Increasing awareness about the availability of cardiovascular surgical procedures and the emergence of robotically assisted surgeries such as coronary artery bypass, valvuloplasty, and valvular replacement are escalating the vascular patches market to greater heights.
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Global Vascular Patches Market, by Regional Analysis on Market Share, 2018 (%)
The Americas, led by higher health care expenditures accounts for the significant market share. Factors such as the fastest uptake of newer technologies and devices in the surgical process are some of the essential drivers of the market. The concentration of major producers of vascular patches is fuelling the market growth.
The European region accounts for the second-largest market due to the high disposable income and raising awareness towards the good quality vascular patches.
Whereas, the Asia Pacific region is growing rapidly driven by emerging economies such as India and China.
Gulf nations, particularly, Saudi Arabia and UAE drive the vascular patches market in the Middle Eastern region. The African region is estimated to witness moderate growth owing to poor economic & political conditions and inadequate healthcare facilities.
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Vascular Patches Market Research Report by Material (Biologic Vascular Patches, Synthetic Vascular Patches), Application (Carotid Endarterectomy, Open Repair of Abdominal Aortic Aneurysms Vascular Bypass Surgery, and Others), End-user (Hospitals and Clinics, Ambulatory Surgical Centers, and Others), and Region–Global Forecast till 2023
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